As Sweden’s envoy in Budapest, Hungary, during World War II, Wallenberg issued passports and sheltered Jews in Swedish-controlled buildings, effectively saving tens of thousands from extermination by the Nazis.
Now, after receiving approval from Parliament, the stamp will be released in 2015.
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Australia's only honorary citizen, Raoul Wallenberg, will be recognized with a postage stamp.
“Outside of Israel, Australia has the largest number of survivors of the Holocaust per capita of any country. Some of them from Hungary and Slovakia have Mr Wallenberg to thank for their survival,” [Parliament member Michael] Danby said.
Danby thanked Judy Schiff of the Wallenberg Unit for her persistence and communications minister Malcolm Turnbull, who wrote to Australia Post to request the stamp be issued.
Other countries which have produced Raoul Wallenberg stamps include Argentina, Canada, Hungary, Israel, Sweden and the United States.